Global X Correlations

Etfs . UK . 
Etf . Global X Infrastructure
PAVE Etf   42.39  0.18  0.43%   
The current 90-days correlation between Global X Infrastructure and Leverage Shares 3x is 0.34 (i.e., Weak diversification). The correlation of Global X is a statistical measure of how it moves in relation to other instruments. This measure is expressed in what is known as the correlation coefficient, which ranges between -1 and +1. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak. If the correlation is 0, the equities are not correlated; they are entirely random.

Global X Correlation With Market

Modest diversification

The correlation between Global X Infrastructure and DJI is 0.22 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Global X Infrastructure and DJI in the same portfolio, assuming nothing else is changed.
  
The ability to find closely correlated positions to Global X could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Global X when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back Global X - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling Global X Infrastructure to buy it.

Moving together with Global Etf

  0.94NVD3 Leverage Shares 3xPairCorr
  0.933NVD Leverage Shares 3xPairCorr
  0.88NFL3 Leverage Shares 3xPairCorr
  0.883NFL Leverage Shares 3xPairCorr
  0.883NFE Leverage Shares 3xPairCorr
  0.933LNV GraniteShares 3x LongPairCorr
  0.933LVP GraniteShares 3x LongPairCorr
  0.883LNE GraniteShares 3x LongPairCorr
  0.95NVD2 Leverage Shares 2xPairCorr
  0.843PLT Leverage Shares 3xPairCorr
  0.99JPCT JPM Carbon TransitionPairCorr
  0.97EUHD PowerShares EURO STOXXPairCorr
  0.94CBND Goldman Sachs AccessPairCorr
  0.94YIEL Amundi EUR HighPairCorr
  0.94EXUS Xtrackers MSCI WorldPairCorr
  0.79GIN SPDR Morningstar MultiPairCorr
  0.98ESIN iShares MSCI EuropePairCorr
  0.95JRDC JPM China APairCorr
  0.88LALU WisdomTree AluminiumPairCorr
  0.99HPUD HSBC MSCI USAPairCorr
  0.98MSF2 Leverage Shares 2xPairCorr
  0.94AUGA UBS ETF plcPairCorr
  0.9SEML iShares JP MorganPairCorr
  0.84REUG VanEck Circular EconomyPairCorr
  0.995QQQ Leverage Shares 5xPairCorr
  0.81CESG FIRST TRUST GLOBALPairCorr
  0.69EHYB Invesco Euro CorporatePairCorr
  0.95BRLA BlackRock Latin AmericanPairCorr
  0.99XCTU Xtrackers MSCI JapanPairCorr
  0.96SMH3 Leverage Shares 3xPairCorr
  0.95TSM3 Leverage Shares 3xPairCorr
  0.73ZINC WisdomTree ZincPairCorr
  0.99AIQG GLOBAL X ETFSPairCorr
  0.88AMD3 Leverage Shares 3xPairCorr
  0.95NATP HANetf ICAVPairCorr
  0.82OIHV VanEck Oil ServicesPairCorr
  0.73ARCG ARK Genomic RevolutionPairCorr
  0.96CB5 Multi Units LuxembourgPairCorr
  0.99HSPX HSBC SP 500PairCorr

Related Correlations Analysis

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Global X Constituents Risk-Adjusted Indicators

There is a big difference between Global Etf performing well and Global X ETF doing well as a business compared to the competition. There are so many exceptions to the norm that investors cannot definitively determine what's good or bad unless they analyze Global X's multiple risk-adjusted performance indicators across the competitive landscape. These indicators are quantitative in nature and help investors forecast volatility and risk-adjusted expected returns across various positions.
Mean DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
3PLT  6.48  2.07  0.20  5.46  8.23 
(7.07)
 15.74 
(12.30)
 56.11 
PAL3  6.30  2.07  0.21  7.55  8.00 
(7.14)
 16.75 
(12.52)
 54.64 
TSM3  4.80  1.63  0.40  0.88  3.58 
(5.83)
 13.45 
(7.93)
 23.89 
QQQ5  3.91  1.14  0.29  0.70  3.30 
(5.15)
 11.83 
(6.42)
 23.21 
5QQE  3.97  1.12  0.29  0.67  3.37 
(5.20)
 10.71 
(7.00)
 25.55 
5QQQ  3.88  1.11  0.30  0.67  3.28 
(4.72)
 10.90 
(6.92)
 24.77 
3LNE  3.98  1.31  0.22 (0.98) 4.08 
(4.56)
 8.13 
(7.26)
 36.20 
3NFL  4.22  1.28  0.20 (1.17) 4.21 
(4.98)
 9.33 
(7.32)
 37.32 
NFL3  4.16  1.36  0.21 (0.85) 4.12 
(4.82)
 8.59 
(6.90)
 39.65 
3NFE  4.01  1.31  0.21 (0.84) 4.00 
(4.74)
 8.02 
(6.67)
 38.10 

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